GT5 dev team is probably aware of all these issues. I bet they have done many many research about car physics, and its not their first Gran Turismo.
I know that Japanese people will work very hard to give the best result to the player.
(I work on a Japanese company myself).
IMO, Gran Turismo and Forza franchise are both games that need to be sold to a very very large public.
Therefore, the dev team as surely been asked to make some sacrifice about the realism in order to make games playable by a large public.
If the game was too realistic, people would loose the control of the car or stall the engine all the time. And the game would loose some fun and popularity for a large public of lambda players.
Also, another issue is that all people do not have a racing wheel, so they need to think about making a game that can be handled with a gamepad easily.
And we all know that adjusting the direction on a gamepad is very limited.
So this may explain why GT and Forza does have some lack of realism in some category.
As i am developing a racing sim myself, i am exactly aware of these issue.
Should i make the game more realistic and harder to play and less fun for a lot of people ?
Or should i sacrifice some realism in order to allow the player to drift with a gamepad ?
For sure you will not reach the same public.
Sorry, i was a bit off topic.
ps: Please forgive my bad English.